Managing cash flow effectively is a core discipline for your organisation. Businesses that manage cash, wealth and capital well tend to be more profitable in the long run – coping better with economic cycles, building greater resilience, and ultimately enjoying more success.
You can be a profitable business, but if your cash flow is not well managed you could find yourself struggling to pay for what you need to keep going. For small businesses it is a good discipline to get into from the start, as it reduces stress, helps you plan for the future, and shows your lenders and advisers that you have control over your business.
This 9 step guide produced by Lloyds Bank will help you manage cashflow effectively.
